Chart AUD/USD Update: Back in range - studies improving
The test of resistance within the 0.6537 current 2025 year high and the 0.6550 Fibonacci retracement is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | ** | congestion | S1 | 0.6450 | congestion | ||
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6400 | * | break level | |
| R2 | 0.6537 | 26 May - 5 Jun YTD high | S3 | 0.6360 | ** | break level | ||
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | congestion |
Asterisk denotes strength of level
14:25 BST - The test of resistance within the 0.6537 current 2025 year high and the 0.6550 Fibonacci retracement is giving way to a pullback, as intraday studies turn down, with prices once again trading below 0.6500. Immediate focus is back on congestion around 0.6450. But rising daily readings and improving weekly charts are expected to limit any break in renewed buying interest above support at 0.6400. Following corrective trade, fresh gains are looked for. But a close above 0.6550 is needed to turn sentiment positive and extend April gains initially to congestion around 0.6600.